Introducing INIT on Blast Phase 0: Blast Ultimate Boost
Get Ultimate Boost on Blast Rewards as an Early Adopter on INIT Now!
INIT Money Market on Blast is now LIVE!
With 1-click, you can now Deposit, Borrow, or Refer on INIT and enjoy rewards from three fronts: Blast Gold, INIT Points, and Blast Points.
INIT on Blast is Liquidity Hook Money Market that brings Blast’s native yield to its highest potential.
Liquidity Hook is a highly-composable plugin for liquidity on INIT, which allows protocols to seamlessly integrate with INIT to access this capital and build yield/trading strategies, or ‘Hooks’ for end-users, e.g., Looping Hook, Margin Trading Hook, Leveraged LP Hook, etc.
INIT on Blast Reward System
In a nutshell, INIT users will get:
- Blast Gold — Translate to BLAST airdrop. 100% of this exclusive reward given to INIT from Blast will go directly to INIT users.
- Blast Point — Translate to BLAST airdrop. Holding ETH and USDB on INIT on Blast is also eligible.
- INIT Point — A means to reward your continuous contributions to the INIT ecosystem.
INIT is one of the selected dApps to receive additional Blast Gold from the Blast team (the Big Bang Competition).
As a top recipient, INIT is committed to distributing 100% of Blast Gold to its users, positioning it as one of the largest Blast reward pools available.
Phase 0: Blast Ultimate Boost
The event runs only 14 days from 6 March — 19 March, 2024 at 8:00 AM UTC.
Deposit on INIT to Get the Ultimate Boost of Blast Gold, INIT Points, and Blast Points
Given Depositors are a crucial part to kickstart the growth flywheel, they will receive the highest incentives with Blast Gold — 80% of the total received by INIT. This ensures Depositors are most rewarded in Phase 0.
1. Blast Gold
Depositors will get a 2x weight boost when opening a position in Phase 0. This boost will increase by 10% every 7 days.
The longer you hold your position, the higher boost you’ll get.
For example,
- Day 1: User A deposits 2 ETH with 2.00x weight boost on INIT.
INIT will see the position as 4 ETH to calculate the Blast Gold. - Day 8 (1+7): User A will receive a 2.20x weight boost (a 10% increase from the initial 2x weight boost), and this boost will continue to increase every 7 days.
Therefore, on Day 8, INIT will calculate the position as 4.4 ETH. - Day 15: User A will receive a 2.42x weight boost (a 10% increase from the previous 2.2x weight boost).
Therefore, on Day 15, INIT will calculate the position as 4.84 ETH.
The 2x boost represents the highest starting weight boost rate exclusively offered to only Phase 0 Depositors by INIT on Blast.
To provide users with flexibility in managing their positions, INIT does not restrict users to lock and hold their positions. Users can withdraw liquidity at any time.
2. INIT Point: Deposit to earn 1 INIT point for every $100 value per 24 hours.
3. Blast Point: Deposits in INIT on Blast get you Blast points, as shown on the INIT App.
Borrow on INIT to Get Blast Gold, INIT Points, and Blast Points
1. Blast Gold: The rest 20% of Blast Gold received from Blast team will be distributed to Borrowers on INIT, shared by volume.
2. INIT Point: Borrow to earn 5 INIT points for every $100 value borrowed per 24 hours.
3. Blast Point: Simply hold assets on the Blast network to get Blast points
Earn 10% More Points Through Referrals
Refer and earn 10% of the Blast Gold and INIT Point earned by every member you refer to from depositing and borrowing activity.
Simply post your invitation code with the hashtag #LiquidityHookEra on Twitter to make a referral.
As long as your referee continues to earn points from any chain (Blast/Mantle), you, the referrer, will continuously receive 10% of their points.
About INIT Capital
INIT Capital is built as the liquidity hook money market that streamlines the process for both end users and dApps. INIT aims to function as the liquidity layer, facilitating DeFi activities (lending, borrowing, and yield strategies) for users and fostering use cases for dApps to build on top of. With INIT as the base liquidity layer, users can seamlessly access and manage yield strategies from dApps through INIT.
INIT is essentially where dApps and users meet, with access to unified liquidity and without the need to look elsewhere.
